As cutting-edge technology continues to alter and advance the healthcare industry, and the U.S. sees an increase in its older population, the demand for health management professionals is growing.
In fact, more than 2.3 million new healthcare jobs will be added, making it the top growing industry in the country. Employment opportunities in healthcare outpace job openings and earning potential in other fields, making earning a degree in health management a great option for students.
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A health management degree combines leadership, interpersonal, analytical, and technical skills to make you a well-rounded candidate in the marketplace—and a valuable employee at any healthcare organization. The degree integrates both healthcare and management skills to ensure that graduates attain a competitive advantage in their careers.
Healthcare also offers employees security, with the average employee spending 4.8 years in his or her position—12.5 percent longer than the national average. The industry represents 42 percent of STEM job postings, and more than half of the almost 2.5 million openings require a bachelor’s degree or higher.
Given the demand, here’s a look at why earning a degree in health management could be the right choice for you:
You Can Earn a Lucrative Salary
The median salary of a hospital administrator is $87,611—much higher than most professions. The median pay of medical and health services managers is $96,540, with the top 10 percent earning $172,240. Given the increase in employment opportunities, it’s no wonder that administrators and executives can make even more than the average doctor.
(Earlene Avalon, lead faculty member for the Bachelor of Science in Health Management and Health Sciences programs, describes the benefits of the degree.)
The Healthcare Industry is Booming
The healthcare industry spends $3.2 trillion each year, and spending for hospital care increased to $1 trillion, a 5.6 percent increase from the previous year. Healthcare is rapidly expanding, with employment expected to grow 19 percent by 2024—much faster than the average for all occupations, according to the Bureau of Labor Statistics.
You Can Make an Impact
Health management helps people connect with others to improve their health. With a degree in health management, you could work in a hospital, nursing home, insurance company, or medical office—making an impact on people’s lives and wellbeing.
If you’re eager to have a rewarding career in a thriving industry, consider earning a degree in health management. Explore Northeastern’s Bachelor of Science in Health Management program to learn more.